Announcing Vxt's $600K Seed Funding Round
Media Release 29th September
We've raised $600K in our Seed round and we're excited to continue transforming telecommunications for small businesses with Vxt.
Since launching late last year, we have delivered over 200,000 messages to thousands of Kiwis and have launched in the US, UK, Australia, and Canada.
Our mobile app has been downloaded more than 18,000 times and our team has expanded from five to 13 people.
We've received financial and tech support from Google, and were one of five companies earlier this year to take part in the Vodafone xone startup accelerator.
Investors in this round of funding include experienced entrepreneurs, as well as respected executives from a range of businesses like Adrian Pike (Founder of Rafferty’s Garden which was acquired for ~$70M), Robert Rolls (CFO of Umbrellar Group), & James Powell (Co-Founder of Dawn Aerospace).
What's next for Vxt
With this capital raise, we not only get a significant cash injection to help us scale faster, we also get a wealth of business experience to draw from.
The investment is a real show of faith in what we’re doing at Vxt, and we’re excited to take on both the investment and experience to scale up our expansion.
We'll use the investment to accelerate our international roll-out, and broaden our product to include business phone systems for small business owners.
We're investing heavily in our technology, including a conversational AI assistant able to answer phone calls, and virtual phone systems so we can provide their customers with full telecommunications services via our platform.
We are also using machine learning to develop more accurate transcriptions on phone call audio.
In the last year we've released a wide range of features and improvements, including: smart greetings that change depending on who's calling, the time of day and more, the ability for you to use Vxt on your desktop as well as on your mobile phone, our integrations marketplace, and more.
We have so much more work to do. There are many small businesses we'd like to introduce to Vxt. We’re on a mission to give small businesses back their time. Thanks to this investment round, we’re going to be able to accomplish our mission much faster.